Warren Buffett's $35 Billion Bet on Tim Cook's Apple Grew to $185 Billion Pretax. Here's What That Stake Says About Long-Term Investing.

Warren Buffett and Berkshire Hathaway marked the 10-year milestone of their landmark investment in Apple Inc. Initially entering the position in the first quarter of 2016 with 9.8 million shares at roughly $25 per share, Berkshire expanded the stake over time, committing roughly $35 billion—around 10% of Berkshire's resources at the time. By 2017, Apple grew to become Berkshire's largest equity holding, eventually reaching an aggregate value of $174 billion and comprising 50% of the conglomerate's $347 billion portfolio by late 2023. Over the entire holding period, Berkshire Hathaway generated over $100 billion in total gains from Apple, turning the initial $35 billion outlay into $185 billion pretax across dividends, realized gains, and unrealized appreciation. Although Berkshire subsequently reduced its stake to $66 billion (roughly 22% of the portfolio) due to risk and portfolio concentration management, Apple remains Berkshire's largest single position. The investment serves as a prime case study in long-term value investing, emphasizing strong corporate leadership, wide competitive moats, and disciplined valuation entry points.